“A pensioner of 300 AZN will receive approximately 411 AZN in February” – 2024-03-14 03:51:04

This year, for the first time, pensioners will be paid the amount of financial assistance given last year (200 manats) per month.

Publika.az reports that Vugar Bayramov, a member of the Milli Majlis, said this.

V. Bayramov answered the question of whether pensioners will be paid monthly or quarterly this year: “From this month, 16.7 manats calculated into the pension amount will be added to the pension amounts from the year 2023. Thus, according to the changes made this year to the “Labor Pension” law, benefits will be added to the pension amount and indexed every year. The 200 manat annual aid paid to pensioners last year by the order of Mr. President is added to the monthly payments from this year. In other words, regardless of the amount, our citizen receiving a pension was paid quarterly 50 manat and annual 200 manat in 2022. This means 16.7 manats per month (200 manats/12 months = 16.7 manats). This means that 16.7 manats is the addition of last year’s assistance to the already monthly amount. From this point of view, those benefits are added to the pension from January. In this case, 316.7 manats will be paid to our citizen who receives a pension of 300 manats in January. But this is not an indexed amount. It should be noted that the assistance for citizens retired with special care was in the amount of 10 percent of their pension. A similar mechanism applies to our citizens as well.”

In response to the question of whether the supplement due to assistance will be taken into account in the pension of each month, the deputy said that this assistance is already a part of the pension amount: “That is, the pension of a citizen who receives a pension of 300 manats is now 316.7 manats. This is the monthly pension amount. But it is not the only increase for this month.”

V. Bayramov noted that in the first 10 months of last year, the average monthly nominal salary increased by 14.5 percent compared to the corresponding period of the previous year. This means that if the current trend is maintained, pensions will be indexed by about 15 percent in January of this year. Of course, a more accurate figure will be announced towards the end of this month.

“Although the first increase will be given from tomorrow, since the official statistics on the increase of the average monthly salary in 2022 will be known at the end of January, the indexation will be carried out exactly then. Pension increases are calculated from January 1, but the second increases will be paid together in February. The amount of the aid added to the pension will be paid from this month. This means that our citizen who receives a pension of 300 manats will receive 316.7 manats in January, 411.7 manats in February, and 364.2 manats from March.

I would like to note once again that these figures may have small changes depending on the indexation percentage. But the general mechanism has already been confirmed. However, no significant change is expected in the indexation percentage compared to the figure we mentioned,” the deputy added.